According to Bankrate.com, 76% of Americans don't have enough money in their savings accounts to cover six months of expenses. Financial professionals recommend that a person have at least six months of expenses saved in order to effectively deal with the loss of a job, a medical emergency or some other calamity.

50% of those included in the Bankrate.com survey say that they have less than three months worth of expenses saved, while 27% said that they have no savings at all and are literally living from paycheck to paycheck.

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One of the most depressing parts of the survey is the realization that many Americans have been unable to improve their financial situations over the past 2-3 years.

The stock market has been soaring and the housing market has been improving, but this hasn't translated into improving fortunes for many in the American population.

The reality is that many lower- and middle-class American families continue to struggle. While the job market has been improving, the national unemployment rate still sits at 7.6%, and many millions of Americans remain out of work.

Given this reality, it shouldn't surprise us to learn that so many Americans are ill-prepared for an emergency.